Designed to be one of Asia, Europe, and North Africa’s premier annual fintech events, 24 Fintech is hosted by Saudi Arabia’s Financial Sector Development Program (FSDP), the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), and the Insurance Authority (IA). Featuring 175 hours of expert-led content, the conference aims to rival some of the world’s best fintech gatherings. It is expected to attract over 26,000 attendees, 300 exhibitors, and 200 investors.

Co-organised by Fintech Saudi and Tahaluf, 24 Fintech will unite regulators, policymakers, investors, technologists, and academics, and provide a platform for global industry stakeholders to shape, foster, and spur collaborative fintech transformation.

Commenting on the industry, H.E. Mohammed ElKuwaiz, Chairman, the Capital Market Authority said: “The Fintech sector is a crucial driver for enhancing and developing the efficiency of financial products and services, aligning with the current technological revolution and serving the Kingdom’s developmental and economic goals. The Saudi Capital Market Authority’s co-hosting of the ’24 Fintech’ summit will bring together key stakeholders to foster innovation and development, and create diverse financing and investment opportunities. Our involvement reaffirms our commitment to creating a vibrant, transparent, and resilient financial ecosystem that meets the highest international standards.”

24 Fintech brings the titans of the finance world to Saudi Arabia, with central bank governors featuring in the speaker line up alongside leaders from regulatory authorities across the Middle East, key global banking and finance players and fintech pioneers.

“Financial innovation and Fintech enablement is pivotal to the ongoing transformation of Saudi Arabia’s economy. The Saudi Central Bank’s (SAMA) participation in co-hosting the 24 Fintech conference underscores its commitment to adopting advanced and innovative solutions, bringing added value to the economy in a manner that encourages competitiveness in Saudi Arabia’s financial market while maintaining the stability and resilience of the financial sector as key enablers for the success of any economic transformation,” said H.E Ayman Al Sayari, Governor, Saudi Central Bank.

The event’s format has been designed to enhance the experience of investors, startup entrepreneurs and academia alike. 24 Fintech will run a Startup and Investors’ Zone known as the “Fintech Fusion Hub” to convene 80 of the most exciting and innovative startups and 200+ investors. Selected startups and investors will collaborate across a thought-provoking agenda on the Fintech Fusion stage, with AI-enabled matchmaking and access to expert-led mentorship.

Speaking on their participation, H.E Abdulaziz AlBoug, Chairman, Insurance Authority said: “The Insurance Authority is excited to back the inaugural edition of 24 Fintech, recognising the crucial role of digital transformation in the evolution of the insurance sector. This event will facilitate the integration of innovative technologies, enhancing the quality and reach of insurance services across the Kingdom. By promoting technological advancements and encouraging innovation, we aim to ensure sector stability, policyholder protection, and sustainable growth. The summit will be instrumental in driving the digitalisation of insurance, supporting our mission to lead in enabling technology and contributing to the goals of the Kingdom’s Vision 2030.”

The 24° Trends Stage will deep dive into the trends and technologies reshaping finance while the Futures Forum Stage will host academic discussions and talent development. Fintech Fusion will be where founders and investors can share experiences and explore opportunities.

“Saudi Arabia’s Vision 2030 makes clear its goals for fintech leadership. It envisages the establishment of at least 525 fintech companies, the creation of 18,000 fintech-related jobs, and a GDP contribution of SAR 13.3 billion by 2030. These objectives signify the country’s unwavering commitment to the growth of its fintech infrastructure, and 24 Fintech will be a pivotal platform that will contribute to this economic growth through strategic collaborations and a strong government-backed support system,” commented Annabelle Mander, Senior Vice President, Tahaluf.

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Taking place September 3-5 at Riyadh Front Exhibition & Conference Centre, the landmark debut of 24 Fintech aims to solidify Saudi Arabia’s position as a global fintech leader. The event will be hosted by the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), Insurance Authority (IA), and is co-organised by Fintech Saudi and Tahaluf, a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and the Events Investment Fund.

With less than six weeks until the debut event, several high-level speakers are confirmed to discuss trending themes influencing the industry. H.E Mohammed Al Jadaan, Chairman of Financial Sector Development Program (FSDP), has been confirmed as a speaker at 24 Fintech.

Throughout the three-day summit, attendees will hear from high-ranking government officials, including H.E Mohammed ElKuwaiz, Chairman of the Capital Market Authority; H.E Abdulaziz AlBoug, Chairman of the Insurance Authority; H.E Eng. Naij Al-Faisal Al-Tamimi, CEO, Insurance Authority; H.E Yazeed Alnafjan, Deputy Governor of Financial Innovation at the Saudi Central Bank; Yazeed AlDemaigi, Deputy of Strategy, Research & International Affairs, Capital Market Authority; and Nezar AlHaidar,  CEO of Fintech Saudi.

Expected to attract over 26,000 attendees, 300 exhibitors, and 200 investors, 24 Fintech will feature 175 hours of expert-led content, positioning itself as one of the world’s leading fintech conferences. Key topics include Governance, Risk and Policy, Cybersecurity, Global Interoperability, and Innovation in Payments.

24 Fintech will feature four stages hosting an array of keynotes, panel discussions, and industry announcements exploring investment opportunities, startups, technology, and academia.

The Futures Forum Stage will be a hub for academic and interactive discussions on blue-sky thinking, while the Fintech Fusion Stage will converge investment and innovation, providing a platform for founders and investors to share experiences. The 24° Trends Stage will explore the latest trends and technologies reshaping finance.

Elsewhere, Startup Zone is a dynamic space for networking, pitching sessions, competitions, and demo showcases that will run parallel to the Investor Program – a venue for unearthing opportunities and making connections with visionary entrepreneurs.

“Fintech Saudi is thrilled to co-organise 24 Fintech, a pivotal event aimed at cementing Saudi Arabia’s position at the forefront of global financial services discussions. 24 Fintech is an important milestone in advancing the Saudi fintech industry and is consistent with our vision to position the Kingdom as a leading global Fintech hub,” said Nezar Alhaidar, CEO, Fintech Saudi.

A major driving force in Saudi Arabia’s non-oil and digital-first economy, the fintech sector now accounts for nearly 20 per cent of all venture investments into the Kingdom, explained Annabelle Mander, Senior Vice President of Tahaluf.

“This growth is propelled by the country’s youthful, tech-savvy population and a very pro-innovation government. With nearly two-thirds of the population under the age of 30, the Kingdom is an ideal location for a week-long celebration of innovation designed to enhance access to financial services, generate sector-wide investment, and showcase the breakthrough products and services primed to upend the sector in the near future. We are confident this event will spotlight the future of finance and act as an incubator for fintech entrepreneurs to grow and thrive.”

24 Fintech is closely aligned with Saudi Arabia’s Vision 2030 which positions the industry as a crucial element in achieving economic transformation. The exhibition has attracted key finance players who are supporting the Vision goals.

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The new annual event, hosted by the Financial Sector Development Program (FSDP), Saudi Central Bank (SAMA), Capital Market Authority (CMA), and Insurance Authority (IA) and co-organised by Fintech Saudi and Tahaluf, aims to create a world-class event that will elevate Riyadh’s global financial technology ambitions and demonstrate the Kingdom’s commitment to shaping the future of finance.

Scheduled to run at the capital’s Riyadh Front Exhibition & Conference Centre from September 3-5, 2024, 24 Fintech has been created to showcase a collective commitment towards unlocking business and networking opportunities, embracing change, and leading innovation. The three-day event will combine an exhibition and summit – featuring 175 hours of expert-led content – with a host of satellite events, including industry gatherings and brand activations, running throughout the week, from September 1-6.

With the goal of establishing the Kingdom as a tech-driven global financial powerhouse, and Riyadh as an international fintech capital, Tahaluf has set ambitious objectives for 24 Fintech. The event aims to become the most influential, and impactful fintech business event, platform, and community anywhere in Asia, Europe, Middle East and North Africa.

Bolstered by an international summit that will unite regulators, financial services professionals, policy makers, investors, technologists, and academics, 24 Fintech will provide a platform for global industry stakeholders to shape, foster, and spur a collaborative fintech transformation.

Initial Tahaluf estimations project the inaugural 24 Fintech will attract upwards of 26,000 attendees, 300 exhibitors, 200 investors and 80 fintech startups. The show will host more than 200 expert speakers to address pressing finance industry issues as the show looks to navigate the immense technological changes impacting operations, from infrastructure provision to client servicing.

Targeted attendees include central bank governors, regulators, policy makers, financial and non-financial institutions, big tech providers, investors and venture capitalists, academics, researchers, as well as professional and industry associations.

“Our vision is to drive forward finance by bringing together essential stakeholders and propelling practical, worldwide transformation in alignment with the economic development agenda laid out in Saudi Arabia’s Vision 2030,” said Annabelle Mander, Senior Vice President of Tahaluf.

The inaugural edition of 24 Fintech will feature four stages hosting three days of programming including keynotes, panel discussions, and industry announcements, with dedicated areas for investment and startups, technology, and academia. Across the various stages, experts will probe a host of themes including governance, regulations, interoperability, investment and reimagining the financial services landscape.

In addition to the main and feature stages, the show will host special initiatives – including the Regulators’ Village, a dedicated zone connecting regulators and fintechs who aspire to set up in the Kingdom. The inaugural 24 Fintech will also offer a dedicated investor programme with an exclusive stage and lounge, as well as Venturescape, pre-show initiative that will bring together 200+ global investors and 100+ fintechs for a series of workshops, mentorship and pitch practice.

A specific startup zone will spotlight 80 of the top global fintech companies, across all major fintech verticals including, but not limited to, payments, lending, insurtech, regtech, capital markets, compliance and open banking. Aspiring startups can take advantage of tailored mentorship and matchmaking sessions as well as a 24 Fintech pitch competition. The top startups will battle it out in timed pitch heats, culminating in a grand finale with US$250,000+ in equity free awards.

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Awards in the Rocket Fuel competition, which is powered by Saudi Arabia’s National Technology Development Programme in collaboration with the Kingdom’s Ministry of Communications and Information Technology and the Misk Foundation, will be distributed across six categories with entrants segmented by size, operational age, number of employees, funding, scale, and societal impact.

“This competition is one of the world’s largest prize funds – and it comes without strings attached, no expectations of equity share, for example,” commented Michael Champion, CEO of Tahaluf, the strategic joint venture between Informa PLC, the Events Investment Fund, and the Saudi Federation for Cybersecurity, Programming and Drones, which organises LEAP alongside the Ministry of Communications and Information Technology. “This is why Saudi is getting so much attention worldwide – it’s putting the customer, the company, the entrepreneur first, showing that it’s emerged as a globally exciting place for startups and investors,” added Champion.

Rocket Fuel competitors will take to the stage during LEAP 2024, where the 12 shortlisted start-ups will present to a star-studded judging panel in a grand finale on March 7.

The biggest prize – the LEAP Award – will go to the startup judged as the most outstanding entry across the competition. The remaining accolades include the ‘Technology for Humanity Award’, for the startup that best embodies the values of sustainability and social impact; the ‘Shooting Star Award’, for the early-stage startup under three years old beginning its journey; the ‘Into New Worlds Award’ for the most impressive startup across the Metaverse and Web 3 space; the ‘Avatrix Award’ for the best, most innovative startup pioneered by women founders; and the ‘Artificial Intelligence Awards’ for the startup presenting the most exciting, ground-breaking use of AI.

The 2023 competition saw Saudi Arabia’s Plastus, which produces 100 per cent biodegradable bioplastics through bacteria fermentation, scoop the main LEAP Award prize from a pool of 90 regional and international startups. The company’s CEO, Nouf Alhazmi, said the award had delivered a seismic impact on the startup: “The LEAP Award at the Rocket Fuel competition was a game-changer for us, enabling us to complete our entire retrofitting stage”.

Anticipating the 2024 entry field, H.E Laila Rahhal El Atfani, President & Founder of Business Gate and Women Business Circle, of the Rocket Fuel judging panel, commented: “In 2023, judges were genuinely impressed by the diversity of both founders, their teams, and solutions. The Kingdom has played a significant role in driving professionalism by welcoming not only top established companies but also involving themselves in their growth of outstanding startups. We’re sure the quality will increase again in 2024 as startups pitch their solutions in line with the foundational criteria linked to Saudi Arabia’s Vision 2030 goals.”

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More than 1,000 of the region’s best and brightest ethical hackers competed in Capture The Flag, organised by the Saudi Federation for Cybersecurity, Programming & Drones (SAFCSP). The jeopardy-style competition tested ethical hacking skills across a range of categories, including Web, PWN, Forensics, Reverse Engineering, and Cryptocurrency, among others.

After a gripping contest, Team DiceGang were crowned winners, securing the coveted title and a cash prize of US$80,000 (SAR300,000). In second place was The Duck, who won US$53,000 (SAR200,000), with team C4t But s4d in third place, securing US$27,000 ( SAR100,000).

The Cyberseed Startup competition, which was running in parallel across the three days, was broken down into three categories. The Innovative Ideator  was aimed at startups that are pre-revenue but have potential groundbreaking ideas ready to make their first jump into the market. The Established Excellence category is for experienced startups that are larger in scale, while the Saudi Superstar award is reserved for a startup that is helping build the profile of cybersecurity talent within the Kingdom.

The winners, who each secured a cheque for US$10,000 (SAR37,000), were FourCore who won ‘The Innovative Ideator’, ‘The Established Excellence’ award was scooped by AlShield, Powered by Bosch, while dPhish was home ‘The Saudi Superstar’ award.

“We are thrilled and grateful to be able to participate in the CyberSeed Pitch competition, and winning the Saudi Superstar award was beyond our expectations – it is an amazing feeling.  Black Hat MEA has provided our business with excellent opportunities, and winning this award will motivate us to continue our efforts, and with our financial projection plan, we aim to make dPhish more profitable and successful. We look forward to participating again next year!” Said Karem Ali Faisal, CEO of dPhish.

Event organisers Tahaluf, the Informa LLC joint venture with the Saudi Federation for Cybersecurity, Programming & Drones, is helping foster the Kingdom’s next generation of cyber leaders with the staging of the inaugural Black Hat Campus,  a content-led environment bringing together vendors, universities, recruiters and consultancies. The Campus concluded on the final day of Black Hat MEA 2023 having created a unique platform for startups to engage with potential investors.

“We operate across Southeast Asia, Singapore, India and the MENA region, and were excited to be a part of Black Hat Campus, which has allowed us to network with other startups as well as larger businesses looking for both partners and investment opportunities. At ThreatCop, we’re architects of a secure future and can reduce cyber risks by up to 90 per cent across some of our products, which has attracted a lot of interest. We’ve interacted with some great like-minded experts and are positive to keep these conversations going after the event,” said Pavan Kushwaha, CEO of ThreatCop, one of the startups invited to participate in the campus

Shiv Kumar, Co-founder and Chief Revenue Officer at AIShield, echoed that experience, adding the Campus had provided the perfect setting to help accelerate his business. He said: “Participating in Black Hat MEA Campus as an AI Security provider was a game-changer for us. We have a unique and targeted platform to showcase our products and engage with industry experts. The event was pivotal in accelerating our brand and customer conversations in the dynamic and highly adaptive cybersecurity landscape in the Middle East, and to win the Established Excellence award was the perfect end for us. We’re excited to see how participating this week will grow our business and network.”

“The launch of Black Hat Campus this year was a strategic move in line with our commitment to equip the next generation of cyber professionals with advanced skills to really make a difference and shape the industry’s future, and it has outperformed our expectations, particularly the  student-focused zone aimed at nurturing local talent. This initiative offers unique learning opportunities under expert cyber professionals,” said Annabelle Mander, Senior Vice President, Tahaluf.

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